An expanded lingerie offering and bigger swimwear portfolio has been credited with helping fashion retailer Boohoo.com reach full-year sales of almost £200m.
The Manchester-based company posted sales growth of 40% for the year ending February 29, taking its turnover to £195.4m. Pre-tax profits rose 42% to almost £16m.
CEO Mahmud Kamani said the growth of its lingerie business had proved to be a positive development. “A key factor in the high growth we have experienced in the year has been the expanded range of clothing, with Plus-size, Petite, swimwear and denim growing very strongly. We also introduced a broader lingerie range, which has performed very well.”
Boohoo revealed that the volume of customers shopping on its platforms last year increased by a third to four million, with more than 65% of activity taking place online.
Its geographic coverage has also been increased through the launch of apps in Australia and the US, while the company has introduced more flexible delivery and return options and later next day delivery cut off times.
The company added that the average customer has 2.62 items in their basket, although average order values fell 5% to £33.59.
In the second half of the year it trialled selling to third party internet retailers, which it said proved to be successful. It intends to expand the number of third party partners in order to build its brand internationally and broaden customer reach.
Kamani added: “We are pleased to report a year of strong revenue growth across all geographic regions. Active customer numbers, order frequency and conversion have all increased on last year as we continue to invest in building customer lifetime value. By refining the mix of promotional and marketing expenditure in each of our key markets, we have achieved growth ahead of our plans.”